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  • #6,501
  • Aug 9, 2012 2:15am Aug 9, 2012 2:15am
pretty good start to London! nearly 20pips on a short so far
  • #6,502
  • Aug 9, 2012 2:36am Aug 9, 2012 2:36am
Quoting iamboston
pretty good start to London! nearly 20pips on a short so far
First direction was long, then sl - 2 pips
If you are not in loss at lo, so you do not follow the rules
Am I wrong?
Don't give up
  • #6,503
  • Aug 9, 2012 7:06am Aug 9, 2012 7:06am
LO -2, NY -2
Whether you can or you can't, you are both right.
  • #6,504
  • Aug 9, 2012 7:11am Aug 9, 2012 7:11am
Quoting fartist
LO -2, NY -2
It went nicely in to ten pips profit but come back to retest, so not this time
BTW, do you guys experiens slipage on oanda?, it always slips a fractal pip for me.
  • #6,505
  • Aug 9, 2012 8:25am Aug 9, 2012 8:25am
jonander50 can you give a example how good are your results with the strategy??? can i use 3 pips stoploss withe the strategy? thanks
  • #6,506
  • Aug 9, 2012 12:04pm Aug 9, 2012 12:04pm
Quoting fartist
LO -2, NY -2
Lo-2 ny +2
  • #6,507
  • Aug 10, 2012 12:55pm Aug 10, 2012 12:55pm
So, on using Zen Leow's EA, there are some settings I am not sure about. One is "UseEquity"; Im not sure what this setting does, and so not sure what to set it at? Does anyone know?
  • #6,508
  • Aug 11, 2012 3:57am Aug 11, 2012 3:57am
Quoting SmartGXL
So, on using Zen Leow's EA, there are some settings I am not sure about. One is "UseEquity"; Im not sure what this setting does, and so not sure what to set it at? Does anyone know?
Just leave it as the default it's part of his generic EA template. There's a summary PDF here which explains all the settings:
http://www.forexfactory.com/showthre...57#post4601757
  • #6,509
  • Aug 12, 2012 11:11am Aug 12, 2012 11:11am
Ok, thanks for posting the PDF! However, Im having some problems with it; when I change some of the values to make it line up with the way I am trading this strategy, I get an error message from MT4 advising me that the EA was loaded with correct input variables. But it is giving me an X, instead of a smiley-face up in the upper-right hand corner. Is this because the market is closed? I am wanting to trade this strategy with a 20-pip TP, a 2-pip SL (plus spread added on), with a spread filter of 1.2 pips...and move to BE when I am 2.0 pips in profit. I trade at Oanda (Non-ECN), and my time zone is GMT -6. Here are the settings I have:


IsECN: False
Session OpenHour1: 2
SessionOpenHour2: 7
Grace Minutes: 5
UserDefinedSpread: 0
Slippage: 3 (not sure if I need that or not)
Pip Distance: 1.0
Take Profit: 20.0
Stop Loss: 2.0
UseJumpingStop: False
Trailing Stop: 0
Add Spread to StopLoss: True
Use Spread Filtering: True
Spread Filter: 2.0
MoneyManagement: True
Risk Percent: 1.0
UseEquity: False
Use BE: True
Break_Even Pips: 2.0
Commission Pips: 0.0
Fixed Lots: 0.1
MaxLots: 15.0
MinLots: 0.1
Lots Decimal Allowed: 5 (Oanda recognizes pipettes in their platform)
  • #6,510
  • Aug 12, 2012 11:40am Aug 12, 2012 11:40am
Ah, nevermind, I just realized I didnt have the Expert Advisors button selected in the MT4 console.
  • #6,511
  • Aug 13, 2012 5:26am Aug 13, 2012 5:26am
Quoting SmartGXL
Here are the settings I have:


IsECN: False
Session OpenHour1: 2
SessionOpenHour2: 7
Grace Minutes: 5
UserDefinedSpread: 0
Slippage: 3 (not sure if I need that or not)
Pip Distance: 1.0
Take Profit: 20.0
Stop Loss: 2.0
Not sure a 20 pip take profit will make up for all the losses that this strategy inevitably has. I'd suggest that you consider a larger TP and a 20 pip trailing stop instead.

Message to everyone: Using a trailing stop is not recommended by Tony
  • #6,512
  • Aug 13, 2012 9:37am Aug 13, 2012 9:37am
Quoting TheMaxx
Not sure a 20 pip take profit will make up for all the losses that this strategy inevitably has. I'd suggest that you consider a larger TP and a 20 pip trailing stop instead.

Message to everyone: Using a trailing stop is not recommended by Tony
Hi Maxx,

For the 20-pip TP, I am trying that as a continuation of the experiment that a poster named AlienFrog and I had started in this thread back in December, for this system...there was some pretty good analysis out there that showed that (with all due respect to Tony) a 20-pip TP was actually better than the original 140-pip TP, mainly because the number of regular wins was higher. He posted a spreadsheet that showed that there were regular 20-pip wins about once a week (one per week for LO and one per week per NYO). This had three separate benefits: First, it was more profitable simplty because the 20-pip TP hit on a more regular basis; second, the more regular wins enabled us to compound on a more frequent basis; and third, the more regular wins helped on the psychological level. As we all know, most traders are not able to withstand going too long without a win (I think some studies have shown that the average trader gives up on a system after 6 losses in a row). Tony's version of the system requires nerves of steel, and most traders wont have the ability to implement his version. So, my idea is to start with the 20-pip level, and then as that account grows, start a SECOND account that aims for the 400 pip level! The 20-pip level is a "starter" version of the system...sort of like starting in the Minor Leagues, and then when you have success with that, you get promoted to the Major Leagues...which is where Tony is at today!
  • #6,513
  • Aug 13, 2012 9:39am Aug 13, 2012 9:39am
Also, I noticed that the EA did not open any trades for me this morning...which is always my greatest fear with MT4 and with EA's in general. Im not sure why no trades were open; I have the smiley face in the corner, etc.

However, from eyeing the pip-history from the two sessions this morning, it looks like both sessions were BE. What was everyone else's results from this morning?
  • #6,514
  • Aug 13, 2012 11:00am Aug 13, 2012 11:00am
Quoting SmartGXL
Also, I noticed that the EA did not open any trades for me this morning...which is always my greatest fear with MT4 and with EA's in general. Im not sure why no trades were open; I have the smiley face in the corner, etc.

However, from eyeing the pip-history from the two sessions this morning, it looks like both sessions were BE. What was everyone else's results from this morning?
No idea - mine traded perfectly but both were losses. Did you have a look in the journal? Also, Zen's EA outputs to a log file under expertsfiles - have a look there. The log file is amazing it shows you every move the EA takes including its micro management of the stoploss to break even.

On the 20 TP issue, I think you can get a similar effect by having a 20 pip jumping stop, which will have the advantage of potentially keeping you in trades which go much higher than 20 pips - but that's just my opinion and youre doing the right thing in testing and modifying the system to something you're comfortable with.
  • #6,515
  • Aug 13, 2012 12:17pm Aug 13, 2012 12:17pm
Quoting SmartGXL
Also, I noticed that the EA did not open any trades for me this morning...which is always my greatest fear with MT4 and with EA's in general. Im not sure why no trades were open; I have the smiley face in the corner, etc.

However, from eyeing the pip-history from the two sessions this morning, it looks like both sessions were BE. What was everyone else's results from this morning?
BE both, but I personaly enter after one pip move, so results may differ.
  • #6,516
  • Aug 13, 2012 1:10pm Aug 13, 2012 1:10pm
Quoting Saintsurfer
BE both, but I personaly enter after one pip move, so results may differ.
This is the same thing I am doing - a 1-pip move is required to enter a trade (which is why my visual look at the markets today looked like a BE to me).
  • #6,517
  • Aug 13, 2012 6:20pm Aug 13, 2012 6:20pm
Ok, I am at home now, and I am looking at the Journal, it is telling me, for both the LO and NYO:

"Error Opening BUY Order: Not emough money"

However, I have $100 in this particular account (live) that I am using to "live test" this strategy, and at 50:1 margin, I should have enough money to open the trade; I have the parameters in the EA set to:

MoneyManagement: True
Risk Percent: 1.0 (I am wanting to lose no more than 1% of my account balance on the trade)
UseEquity: False
Use BE: True
Fixed Lots: 0.01
Max Lots: 15.0
MinLots 0.10 <---I will change this to 0.01 to see what happens
LotsDecimalAllowed: 2

I will try again tomorrow and see what happens.
  • #6,518
  • Edited 7:02pm Aug 13, 2012 6:33pm | Edited 7:02pm
Ok I think I see what I did wrong:

-First, my time zone offsets were wrong (although that had nothing to do with the Insufficient Funds issue).
-Second, my SL levels were wrong, it should be 2 pip + SL. I had it at 1-pip plus SL, but you cannot do that at 50:1 margin while trying to risk 1%.
  • #6,519
  • Edited Apr 23, 2018 8:25pm Aug 14, 2012 5:25am | Edited Apr 23, 2018 8:25pm
Tony,

With interest I have been following this thread, and in particular the method outlined on the first post.

Before I ask my question, here is the math: If we risk say .66% on a trade, and we encounter 100 straight losses, our initial balance is halved. ($100 000 is now $50 000.) 100 Straight losses equates to two full months (50 days) trading London and NY opens!

On the upside, if trade number 101 is a 140 pip winner, our original balance is immediately restored to $100 000.

Question to Tony (and any others who care to comment): In your experience, what is the longest run of losses you have experienced using the parameters of this system?

Second question: is your current TP still 140 pips? (I heard a whisper of experimenting with a TP of 400)

As a complement: its this kind of out-of-the envelope thinking that keeps us inspired. Credit to Tony.

Tim.

ps: I have attached "Trading in the Zone" - M. Douglas. In my opinion his approach is a fine complement to Tony's way of thinking.
______

{ copyrighted attachment deleted by staff }
  • #6,520
  • Aug 14, 2012 7:17am Aug 14, 2012 7:17am
LO -2, NY -2

Had 11 losses in row now.
Whether you can or you can't, you are both right.
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